Suppose Laura and Phillip are among the partners of the same company. Profit is divided among themselves, with 1/6 going to Laura and 1/8 to Phillip, while the remaining goes to ot... Suppose Laura and Phillip are among the partners of the same company. Profit is divided among themselves, with 1/6 going to Laura and 1/8 to Phillip, while the remaining goes to other partners. At the end of the year, the company's profit reached ₱1,260,000. How much more is Laura's share compared to Phillip's share? Read more

Steps to Solve

1. Determine Laura's Share of Profit

First, we calculate Laura's share of the profit, which is given as 1/6 of the total profit of ₱1,260,000.

$$ \text{Laura's Share} = \frac{1}{6} \times 1,260,000 $$

2. Calculate Laura's Share

Now, we compute Laura's actual share:

$$ \text{Laura's Share} = \frac{1}{6} \times 1,260,000 = 210,000 $$

3. Determine Phillip's Share of Profit

Next, we calculate Phillip's share of the profit, which is 1/8 of the same total profit:

$$ \text{Phillip's Share} = \frac{1}{8} \times 1,260,000 $$

4. Calculate Phillip's Share

Now, compute Phillip's actual share:

$$ \text{Phillip's Share} = \frac{1}{8} \times 1,260,000 = 157,500 $$

5. Find the Difference Between Their Shares

Finally, we calculate how much more Laura's share is compared to Phillip's share:

$$ \text{Difference} = \text{Laura's Share} - \text{Phillip's Share} $$

6. Calculate the Difference

Now, compute the difference:

$$ \text{Difference} = 210,000 - 157,500 = 52,500 $$